They will size all of it in America though which is where he is from (it’s called civil asset forfeiture)
Reading the money control act in Taiwan is quite scary. I believe all banks and financial institutions have to follow it in Taiwan. I’ve been audited before from investment institutions asking me for personal banking info when I invest in their product.
Does it mean if I invest in crypto they might decide to seize all my assets one day and say I’m trying to money launder / move money out of the country, when I’m in fact spending my own after tax dollars? From the above reply it seems like lawsuits are useless in getting your money back.
My dealing with the local tax office is that there’s no tax advocate to help you out if you disagree with a decision.
That’s pretty much how it works with Taiwan beaucracy. What the jobsworth says at the desk goes, appeals are useless. A lawsuit will cost the guy another 500k in lawyers fees and he will still lose.
I went through a dispute with the tax office for my 2019 filing. I needed to get an official notice from another government agency to support my position. Once it was sent to the tax bureau, they immediately reversed course and recognized my position (with a refund). So under the right circumstances, it can be done.
Guy
That’s interesting, though usually other agencies tend to say it’s not their area
NT$ 100000. The rest can be in any currency, if declared.
Anyways, Taiwan is still a cash country seeing people lugging around huge piles of cash sometimes.
Yes. That’s what I said.
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In response to Wilson’s claims that he “did not see any sign regarding such a policy,” their alleged reply was: “That’s what they all say.” As authorities took him into a back room, one officer pointed and said “The sign is over there.”
I presume that bin directly in front of that sign is where you dump the excess cash to avoid being busted? 
Guy
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Why dump it? It’s gonna get taken away anyways, same result.
But yea, this professor is dumb if he missed this sign.
He should’ve bought gold bars instead. Or murica money. He was going to the US anyways, I don’t know what he intended to do with TWD in the US.
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this is not true. HKD and MOP are unrestricted if declared unlike CNY. Refer below from customs website.
Same sign intent when entering the EU. This dude should have known.
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Do you have to declare if you are wearing jewelry worth more than the stated limits?
Or does that only apply to gold bullion and loose diamonds?
Who among us is wearing that amount of bling? 
Guy
Not as far as I know. I used to work with a guy that did this to take money out of Dubai without declaring.
He would buy a rolex in Dubai, fly back to UK with rolex on the wrist and sell it in the UK.
you lose some money, but you dont have to declare anything to anyone.
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a watch like Panerai or an Omega will set you back 250,000 NT. And those arent the most expensive ones… one watch on your wrist, another on the missus and you cleared 500,000.
When it’s in your teeth. It’s time for an intervention.
Are you carrying anything worth over $5m into Taiwan?
*smiles
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Legit earnings it should be returned to him
The threat of confiscation should be enough for most people.
Freakin freakazoids
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I often carry bullion into the EU.
Very careful it is less than 10K